Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1887-03-18

=" WY wi l'o eeiOH vi GuClT TOuQS ana
equipments.
This would place all the roads of
the country under one ownership,
control and management, constitut.
ing pool that would be lawful, and
could not be broken.
The name OF the movers are with.
held for the present, but they include
those of men who are money kings
OF the period, and whose plans never
miscarry. The Sully syndicate is
moving in harmony with this enter.
prise.
aARRETT's SUCCESS.
The more that is learned of the
great deal in Baltimore and Ohio
Railroad stock, the more convincing
docs the theory become that it is but
elimination of the efforts and
hopes of the B. and o. management
for years. Long ago it was perceived
that the B. and o. must obtain an
entrance into New York. Millions
Of dollars worth or business had to
be sacrificed or carried at small
profit because OF the lack of terminal
facilities in the Metropolis of the
s Wtry. When the Pennsylvania
Sp road finally shut down on the
~. and O's New York business the
matter van brought to focus. I'm
mcdiatcly the Baltimore and Phila
delphia road was projected. The
consent of Councils of Philadelphia
was obtained to the building of the
East Side Railroad, along the Schuyl-
Kill, in that city, to enable the b and
y. to effect an entrance into the heart
of the city. The freight road was
built across the meek" to the Della
ware. All that remained was q road
to New York. Without n road across
New Jersey little had been accom-.
plished. Proposals were made to the
Jersey Central Railroad, but little
definite WAS DONE.
Meanwhile keen. farsighted man
named Sully had taken q comprc.
hensivc glance over the various lines
of Southern railways and conceived
the scheme of uniting them under
one system which should extend from
Washington to the Gulf lie went
quietly to work and in the course of
year had obtained control of the
Richmond &C West Point Terminal
and Warehouse Company. to which
the Richmond and Danville Railroad
with many other roads had been
leased. Under the Terminal Com
pany all were consolidated. a.
Northern outlet was needed
Jay Gould had obtained control of
the Jersey Central, once fine pro
pcrty, now n broken down.conccrn
and Austin Corbin had secured the
much bufleted Reading road. Both
roads wanted southern outlet.
AT this juncture the representatives
OF the four systems came together
and the combination was effected. t.
Each road preserves its own organ:
cations, but will draw out of the net
profits its proportionate share of the
dividends. Whether the city of Bal
timore will be benefited or not by
the deal is question Mr.. Garrett
is undoubtedly sincere when he says
that he believes it will. At
any rate the enterprise is rcali
cation of the dreams of old John w
Garrett, for it places the road at the
head of the greatest railway system
in the world.
An intimate friend of Mr.. Garrett
is quoted by the New York Times as
saying, in answer to the question if
any sale of Baltimore & Ohio stock
had been made:
Il do not believe that any conside-
rable block Of the stock has changed
hands. The statement that Mr.. Gar
rett has sold his stock, or that tie
Hopkins Trust has sold out, is alb
surd. 1t would not be necessary.
Mr.. Robert Garrett has the right to
vote the Garrett block in all it's hold.
ings with the consent of his brother
and sister. He secured the consent
of the Hopkins Trustees to vote their
stock, and also the consent of the
other holders of large blocks, giving
him power to vote more than a ma
jority of the stock. and thus put the